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Litecoin [LTC] prices bloom by 7% amidst the sideways and brutal bear controlled market

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Litecoin [LTC] prices blooms by 7% amidst the sideways and brutal bear controlled market
Source: Unsplash

Litecoin, the silver to Bitcoin’s gold sees massive rallies as the rest of the cryptocurrencies collapse and show no signs of recovery. The price of Litecoin is currently by up a massive 7% in the 24-hour time frame as per the data obtained from CoinMarketCap.

LTC trading at $32 on January 4, 2019, UTC took a downturn and fell as low as $31. The prices didn’t stay there but rose up in a short-term rally causing the prices to increase back to the prior level.

Source: CoinMarketCap

The prices corrected themselves at this point and started another rally but this time by only $0.51. The next rally was substantial as the prices reached $33.33 mark. The market cap at this point was scratching the $2 billion line. After this point, the prices went into a sideways movement more than seven hours and reached $33.06.

The prices went on a final rally to reach a price point of $34.52, while market cap reached $2.06 billion. In the 7-day time frame, the prices of Litecoin have seen almost the same amount of increase, which is about 7%.

The seventh largest cryptocurrency has seen massive adoption in the past year, especially the recent one, where Litecoin became the first cryptocurrency ever to sponsor UFC 232. The Litecoin logo appeared on the canvas of the octagon, which is a massive step in the right direction for Litecoin’s adoption.

Apart from the above, Twitter users shared their excitement about the recent rally of Litecoin. A user ‘Thought about it’ commented:



“Litecoin is experiencing an ongoing UFC bounce in terms of crypto community confidence 😁😁😁 Viva la Litecoin!”

Another user Litecoin Master tweeted:

“Buy #LTC
1. It’s undervalued 37x less market cap than bitcoin
2. It’s on same path as bitcoin 7 yrs vs 10 yrs
3. #Litecoin halving is Aug 2019, inflation drops from 9 to 4%
4. Litecoin will add privacy
5. Litecoin on ⚡️network
6. UFC partnership
@mrilirgashi @johnkim77”

Another user, Edin Jusupovic commented:

“When Litecoin hits $1000, assuming a 70M LTC circulation, that’s only a small $70B market cap. Apple single-handedly wiped out $64 billion in just a matter of hours after revising revenue projections.
Litecoin is sound money for the world, and it’s worth 10x more than Apple.”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

Febin Jose

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Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





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